I increased my holdings by a similar amount, around 6 times....

I increased my holdings by a similar amount, around 6 times. Holding since 2019. Have sat on my hands since my last purchase in 2020. Watched every trial result and feedback provided by FDA have no immediate positive commercial outcome. Investment thesis not broken but delayed but I am not naïve enough to deny SI and Board took this company to the financial wire which would have destroyed the thesis. A trading plan may have got me out at higher prices but its difficult when they have so many shots at goal and failed to convert a single one. Only needed one to succeed. Always wise to separate trade parcels and investment parcels. Lesson learnt.

Ultimately, too many positive events which should shorten commercialization timelines and SP at record lows was a combination which would make me an mesoblast investor hypocrite if I had access to funds and did not add to my holdings. Fortunately, I had a fair bit of cash in my super which I had not put to work (in error) during this market bull run. Though it does show cash can provide amazing optionality at certain times.

We have some way to go. No chicken counting here.